Glenmark Life Sciences on Friday reported a 24.5 per cent jump in its net profit to Rs 135.4 crore in the quarter that ended on June 30 as compared to Rs 108.7 crore in the same period last year.

Its revenue from operations rose 18.08 per cent to Rs 578.4 crore from Rs 489.8 crore during the same period. The revenue was, however, lower than Rs 621.3 crore recorded in the quarter that ended on March 31.

The net profit in the June quarter was also lower than Rs 146.3 crore reported in the March quarter.

Commenting on the company's performance Dr. Yasir Rawjee, MD & CEO, Glenmark Life Sciences Limited said, "Our performance in the quarter was driven by Generic API and the CDMO businesses. Geographically, US, Europe, ROW and India markets spearheaded this growth. We remain focused on our strategic priorities of building capacities as well as strengthening our product pipeline. This coupled with an improved demand environment and supply situation will act as catalyst for growth in the coming quarters."

Tushar Mistry, CFO, Glenmark Life Sciences Limited said, "I am delighted to report continued growth momentum in Q1 with improved gross margins on the back of rationalisation in input cost and improved product mix. EBITDA and PAT margins improved due to better gross margins. GLS generated strong free cash flow of Rs. 98 cr. during the quarter further strengthening the debt-free balance sheet."